Series B Funding Will Be Used To “Propel Insurance Tech Innovation”
Veruna, the Agency Management System built on the Salesforce CRM platform has successfully raised $10 Million which it plans to use to “propel” further innovation for the insurtech company.
“We’re thrilled by the significant support from industry leaders,” said Jennifer Carroll, CEO of Veruna. “This funding gives us the fuel to push our vision forward and revolutionize the insurance sector.”
The Series B funding round was led by top-tier venture capitalists Berkley Ventures, Guidewire Software, the Institutes, and CoVerica Insurance. Along with existing support from stakeholders like Keystone Insurers Group and EMC Insurance, this fresh capital highlights Veruna’s unique advantage as the sole agency management system with CRM as well as carrier relationship management capabilities. The new funds will accelerate Veruna’s product development and spur growth across key areas, including engineering, sales, marketing, and customer success.
“Given the insurance industry’s recent embrace of Salesforce and CRM tools, Veruna couldn’t be better positioned. This isn’t just tech—it’s a strategic investment in making insurance agencies more effective and efficient,” said Clare Tokeim from Berkley Ventures.
Founded in Hopkington in 2015
A state-of-the-art platform using predictive analytics and no-code configurability, Veruna offers a unique Customer360 solution designed to elevate revenue, efficiency, and customer experience. “The real power lies in having one unified system. Agents can shift their focus from administrative tasks to client advising,” added Carroll.
With its latest funding round behind them, Veruna says it will look to solidify its market leadership by launching new predictive analytics features and expanding its agent-assisted, straight-through digital processing and global footprint.
Veruna officially launched in 2015 and made its debut as Agency Checklists’ neighbor at the MAIA’s Big Event the following year. In 2017, Agency Checklists interviewed its then President, Jon Lincoln. In 2020, the company hired its current CEO, Jennifer Carroll. While the company still retains some roots in Massachusetts, a majority of its operations also are now based in Austin, Texas.